MS SB2029

Authorizes issuance of state general obligation bonds totaling up to $6,000,000 to repair, renovate, and refurbish the Margaret Martin Performing Arts Center in Natchez, Mississippi, a designated Mississippi landmark.

Limits bond issuance to no more than $2,000,000 per fiscal year and prohibits any bonds from being issued after July 1, 2024.

Creates a special fund within the State Treasury called the "2018 Margaret Martin Performing Arts Center Fund" to receive bond proceeds and disburse funds for the project; unexpended amounts do not lapse to the General Fund.

Designates the State Bond Commission as the issuing agent with authority to determine bond terms, interest rates (not to exceed limits in Section 75-17-101), maturity dates (not exceeding 25 years), and sale methods.

Pledges the full faith and credit of Mississippi to pay the bonds; bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, and insurance companies.